Reliance Industries is expected to report a strong Q1 FY27 performance, with net profit likely to rise nearly 20%, driven by a recovery in the oil-to-chemicals business and steady growth in Jio. Investors will also closely monitor management commentary on the proposed Jio IPO, refining margins, retail performance, and the company's new energy initiatives.
Reliance Industries Ltd is scheduled to announce its financial results for the first quarter of FY27 on Friday, July 17. The company is expected to release its earnings after market hours. Market participants are expecting a healthy quarter, supported by a recovery in the oil-to-chemicals (O2C) business and steady growth in Reliance Jio.
Profit Expected to Rise Nearly 20%
According to market estimates, Reliance Industries is likely to report consolidated revenue of around ₹3,01,024 crore for the June quarter. This would mark a 2.4% increase from ₹2,94,059 crore reported in the March quarter.
The company’s EBITDA is expected to rise 5% to around ₹46,367 crore compared with ₹44,141 crore in the previous quarter. EBITDA margin is likely to improve marginally to 15.4% from 15%.
Net profit is expected to witness a sharper recovery. Analysts estimate consolidated profit at around ₹20,451 crore, which would be nearly 20% higher compared with ₹16,971 crore reported in the March quarter.
O2C Business Likely to Drive Earnings Recovery
The oil-to-chemicals (O2C) segment is expected to be the key contributor to Reliance’s earnings improvement during the quarter. Segment EBITDA is estimated at ₹16,146 crore compared with ₹14,520 crore in the previous quarter.
The improvement is likely to be supported by better petrochemical spreads and stronger gross refining margins at the company’s SEZ refinery. A recovery in refining and petrochemical margins could provide support to the overall profitability of the company.
Retail and Oil & Gas Performance May Remain Soft
Reliance Retail is expected to report EBITDA of around ₹6,784 crore during the quarter. This is slightly lower than ₹6,921 crore reported in the March quarter.
The oil and gas exploration business may also witness a marginal decline in performance. Segment EBITDA is estimated at ₹4,148 crore compared with ₹4,195 crore in the previous quarter, mainly due to lower production levels.
Jio Growth and IPO Plans in Focus
Reliance Jio is expected to continue supporting earnings growth through steady subscriber additions and improving average revenue per user (ARPU) as customers shift towards higher-value plans.
Check Out our blog: Reliance Jio IPO 2026: Expected date, price band, subscription & listing date
However, investors will focus more on the company’s future outlook rather than just quarterly numbers. Key areas of interest include Jio’s tariff plans, subscriber growth, and progress towards the proposed Jio IPO.
Investors will also track management commentary on oil sourcing, refining margins, petrochemical outlook, capital expenditure plans and developments in the new energy business.
Reliance Industries Share Price Performance
As of July 16, 2026, Reliance Industries shares were trading above ₹1,300. The stock has declined 17.18% so far in 2026, while it has fallen 12.16% over the last one year.
The upcoming quarterly results and management commentary will be closely watched to assess whether the company can improve investor sentiment and revive momentum in the stock.
About Reliance Industries Ltd
Reliance Industries Ltd is India’s largest private sector enterprise and the flagship company of the Reliance Group, led by Chairman and Managing Director Mukesh D. Ambani.
The company operates across multiple businesses, including oil and gas exploration, petroleum refining, petrochemicals, digital services, organised retail and media & entertainment. Reliance is also expanding its presence in the new energy sector through investments in clean energy and advanced manufacturing.
